IndusInd Bank share price dropped over 5% on Tuesday after the private lender said GST authorities in Thane district have imposed a penalty of over ₹30.15 crore on it for various issues. Shares of IndusInd Bank fell 5.32% to ₹633.55 on the BSE.
IndusInd Bank, which is already facing scrutiny over derivative account anomalies, also said it may file an appeal against the GST order.
In a regulatory filing on March 24, IndusInd Bank said, “…we inform that a penalty of Rs 30,15,18,000/- has been imposed on the bank by the Joint Commissioner of CGST and Central Excise, Thane Commissionerate for various GST issues.
The bank will consider filing an appeal against this order.” IndusInd Bank Derivative Discrepancies IndusInd Bank shares came under massive selling pressure recently after the bank disclosed discrepancies in its derivatives portfolio, which may have an adverse impact of about 2.35% on its net worth.
Following the disclosure, IndusInd Bank share price witnessed its biggest ever drop, falling 27% in a single day. IndusInd Bank management assured investors of posting a profit in the March 2025 quarter and the upcoming financial year despite the losses. Moreover, the Reserve Bank of India (RBI) also released a statement stating that IndusInd Bank is ‘well capitalised’ and its financial position remains ‘satisfactory’.
IndusInd Bank Stock Price Trend
IndusInd Bank share price has fallen 35% in a month and is down 30% on a year-to-date (YTD) basis. In the last six months, IndusInd Bank shares have declined 54%, while in two years, the banking stock has declined 34%.
At 2:05 pm, IndusInd Bank shares were trading 4.39% lower at ₹639.75 per share on the BSE.
